Nithyanandan Anand

- Responsible for providing performance analysis reporting to Global management as per group operating business plan(s) and measure performance report. This includes communication of business results for key projects/products, markets and formulation of financial projection plans for respective middle east markets where business operates.


- Representing the Middle East legal entities tax filings with respective tax authorities, Auditors, Regulators, and Consultants to ensure all open tax assessment and appeals documented and formed effective tax strategies as per jurisdiction wise in line with group policy.


- Responsible for the production of monthly Business Units Q & A report Package and compiling warranty and other reserve requirements and also involve in preparation of Cost of Goods Sold Management, Inventory Analysis.

- Supporting the overall business budgeting process within the region and leading the business planning process to ensure accurate and timely information is properly analysed and communicated.

- Ensuring 360-degree Business credibility and reputation of high quality financial measurement, reporting and planning work.

- Perform Business Analysis and Review, Initiate Process Optimization to reduce cost and improve Business Profits. Ensure effective implementation of the strategies and promotes a sound financial controlling environment.

- Responsible for reviewing Tender Documentation packages comprising of Instruction to Bidders, Contract Forms, and prepares Tenders Status dash board reporting and liaise with internal departments, bidders and contractor’s correspondences.

- Work closely with Project Managers and onshore team to identify potential risks which impact profitability margin and work with risk assessment team to mitigation plans and prepare risk mediation plan action document.

- Led the successful integration of the accounting functions across project sites that involve managing finance team also liaising effectively with Group Head office in the USA for Month end closing and other key accounting deadlines.

- Reviewing and recommending system development in ERP and act as regional focal point for new modifications and deploying key accounting automation functions.

- Produce Summary schedules of financial planning outputs strategy, presentations and Ad Hoc Projects.

- Collaborated with Business Units to identify and implement process efficiencies and reducing operating costs by using real-time data analysis.


Key Achievements:-

- Successfully involved in US sponsored Foreign Naval Sales contract and developed FP&A reporting Structures for various federal Governments across Middle East that includes fleet Expansion design and construction & Naval Logistics Operations Facilities. Selected Projects Handled: Ministry of Defense - HQ Facility - Kabul, Power Plant 3 Upgrades - Djibouti, KKAB - King Khalid Air Base Expansion - KSA

- Managed Revenue orders worth US$ 375 Million both commercially & financially and assessed all kind of business risks and mitigate exposures that generated savings of US$35M approx. on running contracts

- Managed Tax operations for KSA branch that end up avoiding one full time employee in KSA and successfully managed remotely from Dubai all contractual tax issues and that saves G & A cost by 240K SAR annually.

- Collaborated with the Global CFO to shift from ERP transition to a unified approach to BU operations, improving cross functional collaboration, reducing risk, continual business planning and improving the transparency to meet strategic goals which decreased operational BU cost by $450K savings globally.

- Managing regional and new build legal entities finance team for Middle East financial accounting that includes KPI reports preparation & Board Reports finalization.

- Ensure Compliance with reporting as per IFRS and GAAP for US & EU bound Legal Entities.

- Ensure Compliance with established internal control procedures by examining system and business records, reports, operating practices and documentation.

- Prepare Periodic Analysis and recommendations on monthly financial figures from business units compared to budget and last year and issue reports as required by the regional Finance Director.
- Prepare Monthly financial statements for Sponsored Joint venture project to meet joint venture partner’s agreement.
- Preparing regional internal audit plans as ad-hoc task work as “Guest Auditor” program on monthly basis.
- Prepare regional tax returns that includes GCC countries wherever reporting ledgers maintained and submission to tax team for final review and co-ordinate with external tax auditors.
- Establish and ensure control procedures are in place for operational compliance to procedures, regulations, SLAs, etc.
- Preparing onshore costs analysis that includes calculation of field engineers and rig personnel payroll as per country requirements and signed employment contracts.
- Providing comprehensive and detailed corporate commentary for any deviations in Budgets Vs Actual and closely works with business to get corporate reporting and numbers reported as per US-GAAP principles.
- Periodic exposure to the Corporate Executive Management for analysis, reviews and presentations on behalf of Corporate Business Controls Team.
- Review and Follow-up of the Monthly KPI reporting for various drilling units and onshore offices in the ASIA region.
- Prepare the allocation of G&A cost based on specific methods, signal derivations of actual versus budgeted costs and report results for review by the Senior Join venture controller in order to contribute to accurate mass allocation across business units.
- Ad hoc Analysis, Group Reports of Business and presentations to the Corporate Group Controller and to various stake holders for reviewing decision making and consolidation purposes.


New Drilling Units Business Dash Board & Reporting:-


- Develops reports and KPI dashboards for forecasting and progress management of new builds construction
At shipyards.
- Follow-up with Director - Operations (New Builds) for operational inputs and validate monthly board
Meeting reports which demonstrate commitment and actual spend statistical reports by rigs wise.
- Review reporting of new Builds Cash flow and ensuring that all AFE’s submitted are classified under the
Correct type of costs such as OPEX, LTM, CAPEX and same reflected in corporate books.
- Plan and Manage the migration of Corporate Business Reporting processes for New Builds and
Implement Business Continuity and risk management systems.
- Participate in reviewing, analyzing and preparing the Seadrill Consolidated budget and liaising between
The regional finance and operating team and Corporate Management to ensure that all statutory reporting
Requirements are under stood and followed at all levels.

Achievements:-

- Successfully involved and contributed in Sapura Kencana Petroleum (State Owned Driller Singapore) integration of tender rig business and worked with various key stake holders for smooth transition of separation and on Brazil operations prepared financial modeling for new rig contracts of new build operations.

- Preparing Financial Reporting for Middle-East & North Africa business units covering major product lines through ERP plat form mode.
- Managing 28 Business Units Key Financial Reports as per require standards and periodic compliance on month end closing’s
- Maintaining and keeping track of company Fixed Assets register and proper valuation of the same on periodic basis. Also monitoring additions and disposals on regular basis.
- Preparing and reviewing regional tax schedules as per country controller’s input and update the same in corporate package and providing explanations for the same.
- Reviewing Commercial Bids & Tenders and participate in customer meetings to address financial queries and preparing necessary financial models.
- Managing over all projects of both Land & Marine rigs executed in MENA Region and providing job cost analysis.
- Maintaining proper tax invoices for projects in Algeria & Iraq and preparation of various tax filing as and when required.
- Providing support to regional product line managers and business planning by project wise.
- Ensure that adequate visibility of all items in the PNL and Balance Sheet is provided to the Country Manager and deliver necessary management reports and analysis.
- Preparing product line Revenue Reports and recognition as per GAAP principles.
- Reviewing project tenders and contracts and advise tax exposure cases and put recommendations on pass on to contractors otherwise to provide relevant FCPA or any other tax provisions applicability.
- Support and initiate optimization to assist in the improvement of quality, costs and profit.
- Co-ordinate with Tax Authorities relates Project Tax & Zakat Tax filing within the region.
- Conducting Finance training sessions for product lines operations to non-finance staff.
- Carry out cost projections at required intervals for Budget/Estimates, including assessment of cost reduction opportunities.
- Ensuring appropriate systems are in place to account and control all capital expenditure and fixed assets. Ensuring that fixed asset verifications are performed on a regular basis.

- Managing and Execution of Assurance Engagements in compliance with Risk Assessment and Transaction Services which includes Corporate Taxation, Restructuring of Business and M & A Valuation a due diligence studies on behalf of clients.

- Preparing and maintaining Field Risk Advisory Notes and meeting minutes and negotiating pricing agreements with clients.

- Assisting clients on behalf of preparing Tax Returns, Global Payroll Solutions, Financial reporting Preparations, Business Valuation Reports.

- Being up to date with local and Global markets and analyzing volatility of commodity, Foreign Currency and Equity Research.

- Providing SOX training(s) to external clients and provided assurance reviews and compliance testing(s) on Anti-Money Laundering and corruption risk reviews where client business entities operate and delivery high quality Forensic Engagements outcomes and finalization of reports.

- Conducting Risk Assessments with focus on financial and operational issues and non-compliances with applicable standards.

- Provided assurance engagement solutions on IT audit Reviews and determine stakeholders’ expectations, appraise effectiveness of IT Governance, Risk, Control mechanism and assess effectiveness of general controls for engaged clients.

- Preparation of client’s SEC Reporting filing reviews such as 10Q, 10K N1A and other corporate returns and maintaining corporate confidentiality